Here is today's summary of economic development news, a free service of the Economic Development Partnership of Alabama, representing Alabama's private sector investment in economic development. If you enjoy NewsFlash, thank an
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Steelmaker SSAB has announced plans to invest up to $100 million in its plant in Axis, north of Mobile.

According to information released by the company, it intends to "increase production capacity for high-strength, value-added steels, including quenched and tempered (Q&T) steels, while increasing operational efficiency and reducing raw material costs." The work will be done between 2019 and 2020 and could create up to 50 jobs "depending on the timing, priority and scope of investments."

The Economic Development Partnership of Alabama (
EDPA) announced on Friday that six early-stage companies have advanced to the Alabama Launchpad Startup Competition Finale, which will take place in Fort Payne on November 14.

In a press release, EDPA vice president Angela Wier said, "In keeping with EDPA's commitment to bring innovation to all parts of Alabama, we are very happy to partner with DeKalb County Economic Development Authority (DCEDA) to bring the fourth quarter Alabama Launchpad pitch competition to this region of the state. Often, we see entrepreneurs from an area apply to the competition after attending the finale in their region. We look forward to networking with entrepreneurs in northeast Alabama. Innovation can thrive in every corner of Alabama and EDPA is committed to outreach and celebration of innovation."

Startups are competing in one of two tracks - "concept stage," which is for entrepreneurs launching businesses, and "seed stage," which is comprised of businesses accelerating growth.

The Summit's 7th installment, with the theme "Securing the Supply Chain," will be held at the Huntsville Westin, 6800 Governor's West. Bank of America Merrill Lynch is sponsoring the event, which concludes Friday.

"The topics covered at this year's Summit are very timely for our companies, and will equip them with the tools necessary for them to remain competitive globally," said Greg Canfield, secretary of the Alabama Department of Commerce.